Middle East Economic Survey

VOL. LII

No 42

19-Oct-2009

REGIONAL

BofA Merrill Lynch Predicts Strong GCC Growth

Higher oil prices, a recovering credit market, a weaker US dollar and a general improvement in the global economic backdrop are all likely to produce a strong recovery in the GCC, predicts a recent report by BofA Merrill Lynch. Despite short-term concerns, in particular the unfavorable summer seasonality and potential for a warm winter which could negatively impact oil demand, the firms...